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1705 Latigo Trace Round Rock, TX 78681

4 Beds 2 Baths 1,552 sqft Built 1984

$250,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $161.08
  • 4 Days on Market
  • MLS # : 9207909
  • Updated Date : 11/01/2020 at 17:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Re/max Capital City

Listing Agent's Description

Well maintained home in popular Hermitage Subdivision (No HOA) ....shows pride of ownership! Hard to find 1 story, 4 BR, 2 BA, 2 Garage that attends highly desired Old Town Elementary, Walsh Middle & Round Rock High! Roof replaced in 2015, Hardi Siding/Exterior paint in 2016, New dual pane windows from Window World in 2014, and much more. Inviting covered front porch ~ living/dining/kitchen with tile flooring. Kitchen has original pantry + additional pantry/storage with adjustable shelves added by owner. Master suite offers his/her & our closet space ~ full bath with dual vanity. Large covered deck in back ~ nice yard with trees! Low Tax Rate ~ Super convenient location with easy access to major roadways, dining & shopping.

SEE MORE

MARKET HIGHLIGHTS

  • Austin metro contributes to 8.4% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 in U.S. Cities attracting the most workers and a preferred destination for job movers (LinkedIn, August 2018; Glassdoor May 2018 )
  • Austin metro economy is worth over $153 billion in Gross Metro Product and projected to grow to $162 billion in 2019 (USMayors.org, 2018)
  • #2 in Top 10 cities for entrepreneurs and start-ups (Business.org, 2018)
  • #3 on Best Cities for Renters (Smart Asset, July 2018)
  • #1 in 125 Best Places to Live in the USA (U.S. News, 2019)
  • Austin metro employment growth is at 3.4% and predicted to grow at 2.9% in 2019 (USMayors.org, 2018)
  • Companies with headquarters and major regional presence in Austin: Dell, Whole Foods, Apple, AMD, IBM, Flextronics, Google, Facebook, National Instruments, and Freescale Semiconductor. Apple announced an investment of $1 billion in a new 133-acre campus in Austin accommodating an additional 5,000 employees.
  • Austin metro has 70% labor force participation rate, one of the highest in the nation and higher than the national rate 62.8% (USMayors.org, 2018)
  • Austin ranks #7 in total venture capital deals flow with $1.84 billion venture funding flowing in to the metro in 2019, an increase of 19.5% from the previous year (Crunchbase News, 2020)

PRICE & RENT TRENDS

Neighborhood: The Hermitage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $116k298k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Hermitage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8041828

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Old Town Elementary School Primary Regular 736 48 6
Walsh Middle School Middle Regular 1,460 92 10
Round Rock High School High Regular 2,972 195 8

Old Town Elementary School

  • Education Level: Primary
  • # of students: 736
  • # of teachers: 48
6
GreatSchools Rating

Walsh Middle School

  • Education Level: Middle
  • # of students: 1,460
  • # of teachers: 92
10
GreatSchools Rating

Round Rock High School

  • Education Level: High
  • # of students: 2,972
  • # of teachers: 195
8
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$922
Property Tax -$508
Property Insurance -$114
Property Management Fees -$132
CASH FLOW
-$27

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,373

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,650

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1705 Latigo Trace Round Rock, TX 4
    • 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 1403 Hollow Tree Boulevard Round Rock, TX 1
    • 3 beds 3 baths ∙ 1,405 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,405 Sqft ∙ Built 1992
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 1413 Hollow Tree Round Rock, TX 2
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1995
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 1808 White Oak Loop Round Rock, TX 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1994
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 1603 Sylvia Lane Round Rock, TX 5
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Pat Gunter
1.512.750.0116
Re/max Capital City
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9207909
Last Updated: 11/01/2020
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